Bizantine Capital
205 posts
Bizantine Capital
@Bizantinecap
Not investment advice - https://t.co/M03QDsSzup
Katılım Ekim 2021
32 Takip Edilen153 Takipçiler
Awesome article by @CompoundVC explaining the vertical advantages that @anagenxyz currently presents;
(Anagen) sits at a $16M FDV with 60% M/o/M revenue growth, a live telehealth platform, and a full pipeline of compounded hair loss treatments.
While $MANE ($MANE) is valued at $3.9B with zero revenue and one drug in trials.
Same therapeutic concept, fraction of the valuation, but is actually shipping product.
Safe to say the market hasn't priced this in yet?
compound.vc/writing/emerge…
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Go Hair!
Anagen💈@anagenxyz
Can an anon cure hair loss? @hairypapasmurf is widely renowned as the greatest hair loss researcher in the world. Today, his favorite program hits a new milestone. TWIST1 is not a supplement, peptide, or shampoo. It is a gene target. It shows up in dermal papilla biology, genome-wide association studies, and AGA-linked transcriptomics. In mice, TWIST1 loss-of-function extended anagen and accelerated hair growth. That does not mean inhibiting TWIST1 grows human hair. But it made the target worth testing. So @hairypapasmurf designed a panel of TWIST1-directed antisense oligos. We tested them in the Anagen lab, and the results are in. The first screen found a clean early lead: ASO17. ASO17 produced 65 -> 75% TWIST1 knockdown from 100 nM to 1 µM while showing no cellular toxicity. The strongest silencers were not the leads. ASO10 and ASO16 knocked TWIST1 down harder, reaching ~81-90%, but both carried toxicity flags. That distinction matters. A TWIST1 ASO is only useful if it lowers the target without hurting the cells. This is not proof of hair growth. No TWIST1-directed ASO has ever been tested in any indication, from hair to cancer. But a pseudonymous researcher’s 5-year thesis has now become a real target-validation program, with a designed lead. Next step: to test in mice 🐭
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Ticker is @Lighter_xyz
The Kobeissi Letter@KobeissiLetter
SpaceX is driving a historic surge in tokenized asset trading. Over the last 30 days alone, $4.3 billion worth of tokenized stocks were traded onchain. This marks the highest monthly volume since inception, with growth of over 140% YTD. On June 15th alone, after the SpaceX IPO, $SPCX, 24-hour spot volume for tokenized stocks trading on Solana surpassed $100 million for the first time. Solana dwarfed all other chains for tokenized SpaceX, with a peak of 99% volume share across all chains, also making Jupiter the leading venue by volume for trading tokenized SpaceX. This pushes cumulative transfer volume of onchain tokenized stocks above $20 billion for the first time in history. Tokenization is accelerating.
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@bizantinelabs USDT0 SuperVault is exactly that.
14%+ APY. Here's the breakdown:
→ 92% deployed to Mystic Core lending → 8% kept as withdrawal reserve → WFLR rewards auto-harvested back into USDT0 → Withdrawals processed in ~1hr, fully automated
No lock-ups. No complexity. Just yield.
Superform@superformxyz
14%+ yields don't have to be complicated. Here's how the @bizantinelabs USDT0 SuperVault works: - 92% → Mystic Core lending - 8% → withdrawal reserve - WFLR rewards → automated & harvested into USDT0 - Withdrawals → automated, ~1hr Dive in ⬇️
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The market is sleeping on $LIT
Lighter TVL: $503M Polymarket TVL: $429M
Lighter annualised revenue: $100M Polymarket annualised revenue: $90M
$LIT FDV: $1.65B ✅ $POLY premarket FDV: $20B+ 👀
Yes, they're different businesses. Yes, prediction markets get a premium.
But when a DEX with higher TVL and higher revenue trades at 12x less the valuation of its comparable, that's not a sector discount.
That's mispricing.
$LIT is one of the most asymmetric setups in DeFi right now. 🔥
Gentleman@zextu
$Lit TVL - $503m polymarket TVL - $429m Lighter annualised revenue - $100m Polymarket annualised revenue - $90m Polymarket premarket token is trading at fdv of $20 billion+ whereas $Lit is available at $1.65 billion fdv Although they are in different business and hence $Poly has premium valuation but comparison shows how undervalued $Lit is and its upside potential
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LIT is simply cheaper
ivish@beingivish
Why LighterEVM ( ethereum:0x232ce3bd40fcd6f80f3d55a522d03f25df784ee2 ) Is Different From HyperEVM ( hyperliquid:native ) ? In this thread: ➜ Lighter EVM vs HyperEVM ➜ Shared collateral explained simply ➜ Why builders should care ➜ The Ethereum advantage ➜ The biggest opportunity ahead 🧵👇 ——————————- Most people are looking at Lighter EVM and saying: “Oh, so this is just HyperEVM but for Lighter?” Not really. The difference is subtle, but it could be one of the biggest design choices in DeFi. ⸻ First, understand what @Lighter_xyz already solved Most Ethereum builders believed one thing: ❌ You can’t build a high-performance trading engine on Ethereum. Why? ➜ Low latency needed ➜ Massive throughput needed ➜ Tight spreads needed ➜ Fast liquidations needed That’s why most projects moved away from Ethereum. @HyperliquidX built its own chain. Many others built appchains. Lighter took a different route: ✅ Keep Ethereum security ✅ Keep Ethereum settlement ✅ Use custom ZK circuits to make trading fast Result: ➜ One of the highest TPS systems in crypto ➜ CEX-like performance ➜ Ethereum-level verification ⸻ So What Is Lighter EVM? Think of it like this: Today, Lighter = Trading Engine Great for: ➜ Perps ➜ Spot markets ➜ Order books But developers can’t easily build: ➜ Lending protocols ➜ Stablecoins ➜ Yield protocols ➜ RWAs ➜ Consumer apps because those applications need a normal EVM environment. ⸻ Lighter EVM Changes That Now developers get: ✅ Full EVM compatibility while still being connected directly to: ✅ Lighter liquidity ✅ Lighter markets ✅ Lighter collateral ⸻ Why This Could Matter More Than The Exchange Itself 👀 Most ecosystems look like this: Trading Chain ↓ Bridge ↓ EVM Chain Every time you move: ➜ Assets move ➜ Liquidity fragments ➜ Capital becomes inefficient ➜ Users wait ➜ Bridges add risk ⸻ Lighter wants this: Trading Engine ↔ Lighter EVM > Same ecosystem. > Same liquidity. > Same collateral base. > Fast interoperability. ⸻ What Does “Shared Collateral” Actually Mean? Shared Collateral, Explained Simply You have $10,000 backing a perp position. Normally, if you want to borrow against it: ➜ Withdraw ➜ Bridge ➜ Deposit somewhere else ➜ Borrow Multiple steps. Multiple platforms. Lighter EVM aims to let that same collateral power multiple applications at once. >> Trade on Lighter. >> Borrow on Lighter EVM. >> Use the same capital. You get more value from the same capital. ⸻ Lighter EVM vision: You have: ➜ $10,000 supporting your perp position At the same time: ➜ Lending protocol sees that collateral ➜ Stablecoin protocol sees that collateral ➜ Other DeFi apps can use that collateral Without constantly moving assets. That’s a huge jump in capital efficiency. ⸻ Why This Matters For Builders Lighter EVM isn’t just about trading. It’s about giving direct access to Lighter’s liquidity and users. Imagine building: ➜ Lending protocols where traders can borrow against their existing collateral instead of moving funds elsewhere. ➜ Stablecoins backed by assets and collateral already sitting inside the Lighter ecosystem. ➜ Yield products that put idle capital to work while staying connected to active trading markets. ➜ RWAs (stocks, bonds, real estate, etc.) that can interact directly with onchain liquidity and trading infrastructure. ➜ New financial apps that combine trading, borrowing, lending, and yield generation in one seamless experience. The big opportunity isn’t another exchange. The opportunity is building the financial products that sit on top of the exchange. That’s how ecosystems evolve: Trading → Lending → Stablecoins → Yield → Full Financial System. Lighter already has the trading layer. Lighter EVM is what allows builders to create everything on top of it. 🕯️
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Despite the intense sell off we are currently witnessing, there are still pockets of outperformance in the crypto markets that are past pure narrative sentiment. Bizantine comments on the current market dynamics;
coindesk.com/tech/2026/06/0…
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The most underpriced moat in crypto right now isn't technology -> it's regulatory compliance.
A $100B+ regulated US perps market. Delaware C Corp structure. Active pursuit of the required licenses.
@Lighter_xyz isn't just building a fast perp venue -> they're building the only perp venue that can legally serve institutional US capital at scale.
Most protocols run from regulators. Lighter is running toward them.
That's not a green flag. That's a structural moat. 🏛️⚡
$LIT
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Most traders don't realize how much fees silently kill their edge.
31.2% → 43.8% profitable strategies. Same logic. Same signals. Just lower fees.
That delta isn't Lighter hype -> it's math. And @minara had the intellectual honesty to show the slippage caveat too.
The real alpha here? @minara's AI can now route fee sensitive strategies to Lighter and slippage sensitive ones to @HyperliquidX.
Best of both venues. That's the broker thesis. 📊
Minara AI@minara
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Lighter just did another 59K $LIT buyback today.
And already 134M $LIT has been staked in LLP, which is around 58% of the circulating supply. On top of that, the treasury wallet has already bought back 13.87M $LIT, which is more than 5.55% of the circulating supply.
And that's almost 2x higher than Hyperliquid's buyback percentage relative to market cap.
$LIT is so undervalued right now that most people don't realize it. Lighter is doing around 20% of crypto volume, 10% of RWA volume, 4% of fees, and 2x the buyback rate while sitting at only around 2% of the market cap.
That’s it.
Lighter 🕯️
ajey.lit (Perp Dex arc)@ajey_eth
Lighter just did another 56K $LIT buyback (since my last post). Right now, 100% of Lighter’s revenue is going toward buybacks. These tokens could potentially be used in the future for ecosystem growth, incentives, roadmap initiatives, or even boosting rewards for holders. Nothing is confirmed yet, but I trust the Lighter team to make the right long-term decisions with the treasury. That’s it. Lighter 🕯️
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Bizantine Capital retweetledi
I'm fascinated by this telehealth firm that claims to have basically made a safer, longer-lasting version of minoxidil.
If this is real, then they'll save a bunch of hairlines and open up hair restoration to a wider audience, and at what seems to be a pretty low R&D cost!
Anagen💈@anagenxyz
The first AI-designed hair loss drug on the market now has human data. We measured what MINX, our 5 mg oral minoxidil lipid-matrix capsule, does in the bloodstream. Most oral minoxidil hits your blood fast, peaks, then comes down. That sharp spike is hypothesized to be part of what drives side effects. But when MINX was taken after food, the release curve was still going up 8 hours later. The highest measured level was only ~6 ng/mL, about 6x lower than published immediate-release 5 mg oral minoxidil data, with near-complete relative bioavailability. For comparison, published standard 5 mg oral minoxidil data peaks around ~35 ng/mL in ~30 minutes. This is not proof of better hair growth or fewer side effects. But it is an early signal that MINX may behave very differently in the blood than immediate-release oral minoxidil. The data was strong enough that we filed our 10th provisional patent yesterday. Full report here → anagen.xyz/treatment-scie…
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The real metric isn't TPS -> it's capital efficiency.
Lighter is doing 50 to 100x Base's volume with a fraction of the liquidity fragmentation. That's what happens when you optimize for execution, not just throughput.
This is how you scale Ethereum without breaking it. Bullish on the architecture. 📊
ajey.lit (Perp Dex arc)@ajey_eth
Lighter is generating 50-100x than base. Lighter is truly scaling ethereum.
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This is the DeSci thesis in one tweet.
A safer, longer lasting minoxidil formulation at a fraction of traditional pharma R&D costs. Live clinical data streamed on-chain. Permissionless human protocols.
If @anagenxyz executes, they don't just save hairlines -> they prove that decentralized biotech can out innovate legacy institutions on speed and cost.
That's why we're in @HairDAO. 💈🧬
Crémieux@cremieuxrecueil
I'm fascinated by this telehealth firm that claims to have basically made a safer, longer-lasting version of minoxidil. If this is real, then they'll save a bunch of hairlines and open up hair restoration to a wider audience, and at what seems to be a pretty low R&D cost!
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damn @anagenxyz is valued at 40x sales and is an IP factory, at an 8 figure market cap
while @SpaceX is at 100x sales at a 13 figure market cap
investors really hate crypto rn
bullish
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🔥 The numbers don't lie -> Minara's Sharpe Guard V2 just crushed it in a BTC backtest (Jan to May 2026): +335% on @Lighter_xyz vs +55% on Hyperliquid.
When your execution venue matters THIS much, you pick the better one. 🧠📈
Give it a shot via the Lighter wallet -> higher rewards, smarter routing.
$LIT @minara #DeFi #PerpDEX #CryptoTrading
Minara AI@minara
Minara's official strategy Sharpe Guard V2 returned +335% on Lighter versus +55% on Hyperliquid, in a BTC backtest over Jan–May 2026. Give it a try, it's more rewarding via Lighter wallet 👀 minara.ai/app/trade/perp…
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